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The People’s Bank of China (PBOC) will continue to crack down on payment platforms’ practices that fall afoul of the country’s anti-monopoly law, with a senior central bank official pointing out that billionaire Ant Group was not singled out for such behaviour.
“Ant Group is not the only company that engages in monopolistic behaviour, while in fact there are other payment platforms with similar practices,” Fan Yifei, deputy governor of PBOC, said during a news conference on Thursday, without naming specific companies.
Fan said that measures imposed on Ant Group would also . . .
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